Economy

Flash Steelworks Breaks Ground in Kentucky
Written by Becca Moczygemba
October 14, 2022
Flash Steelworks, Inc. is breaking ground on a $12.1 million armor and military-grade plate manufacturing facility in Middlesboro, Ky., the company said in an Oct. 12 release.
“Starting in Middlesboro, we will deploy leading-edge advanced steel technology and products in what is planned to be a regional industrial hub,” said Gary Cola Jr., founder, and chief technology officer of Flash Steelworks. “This new facility is just a first step toward bringing many truly high-paying, long-term jobs to Southeast Kentucky to the benefit of all.”
Over the next 15 years, the manufacturer is slated to create 250 new jobs in Kentucky, with 100 of those positions opening in the next three years.
The Washington Township, Mich.-based company uses a specialized electronic/thermal process to produce high-strength, formable, weldable steel. The material’s tensile strength ranges from 1500-1800MPa, that can provide ballistic and blast protection with reduced weight and thickness. In addition to armor plate, Flash Steelworks offers coils and tubing and bar products.
By Becca Moczygemba, Becca@SteelMarketUpdate.com

Becca Moczygemba
Read more from Becca MoczygembaLatest in Economy

ISM: Manufacturing expansion loses steam after two months of growth
US manufacturing activity slowed in March after two straight months of expansion, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.

Chicago Business Barometer rose to 16-month high in March
The Chicago Business Barometer increased for the third-consecutive month in March. Despite this, it still reflects contracting business conditions, as it has since December 2023.

Durable goods orders rise again in February
Transportation equipment led the increase, rising 1.5% to $98.3 billion.

Consumer confidence falls for fourth consecutive month
People remain concerned about inflation, trade policies, and tariffs.

Housing starts ticked up in February
Single-family starts last month hit a rate of 1.10 million, a month-over-month increase of 11.4%, census data shows.